Sources told Undercurrent that the upcoming sale of Portobello Capital’s stake in Spanish fishing group Ibercosa (Iberconsa) will attract strong trade and private‑equity interest, with some suggesting a combination with Grupo Nueva Pescanova could be ideal, though Ibercosa’s management reportedly prefers private‑equity backing
US seafood companies may have a window.
President Trump’s increasingly tough stance on trade is worrying many US seafood industry players, as it does not necessarily consider that some 85-90 percent of the seafood we consume in this country is imported. Increasing barriers to imports many result in higher raw material costs, lower profitability, a slowdown in revenue growth and, consequently, a potential general decrease in Enterprise Values (EV) for those companies exposed to these possible regulatory challenges.
Source: IntraFish
Son negocios en expansión con generación constante de caja, de ahí que sean atractivos para este tipo de sociedades.
La comercialización de productos del mar está al alza en Europa (por la recuperación del consumo tras la crisis), Estados Unidos (con nuevos formatos) y Asia (por una creciente clase media en China). En Galicia es una industria muy atomizada pese a que las Rías Baixas concentran la mayor capacidad productiva de la eurozona. Aún así, solo Nueva Pescanova figuraba entre las top 100 del mundo, un ránking al que ha entrado Ibérica de Congelados (Iberconsa) tras la compra por esta última de la argentina pesquera Santa Cruz. Ninguna de ellas está en manos de industriales de la pesca; la primera es propiedad de la banca acreedora, que ya ha iniciado contactos para desinvertir, y la segunda está en manos (en un 55%) del fondo Portobello Capital.
Bankers and deal advisors at a Boston seafood show noted that while many factors should heat up seafood M&A, the pace of announced U.S. deals slowed in 2017 due to a valuation “disconnect” between buyers and sellers, so much talk failed to translate into completed transactions
March 16, 2018 – Antarctica Advisors LLC, the leading Seafood Industry-focused M&A advisory firm, acted as the exclusive investment banking advisor to Mitsui & Co (U.S.A.) in a strategic partnership transaction with Mark Foods, a New York-based importer and marketer of quality seafood products to high-end retailers, distributors, and restaurant groups in the U.S.
Mitsui & Co (U.S.A.) is the U.S. subsidiary of Mitsui & Co Ltd, one of the largest general trading companies in Japan and publicly traded on the Tokyo Stock Exchange with $100 billion dollars in total assets. The group owns considerable seafood resources worldwide, including shrimp farming operations in Asia and salmon farming operations in South America.
Featuring Ignacio Kleiman, Managing Partner – Antarctica Advisors
The economic landscape for the global seafood industry is shaped not only by trends in the marketplace, but also by access to resources and financial capital. SeafoodSource is convening a panel of experts to discuss the challenges the industry faces and the opportunities presented by shifting interest rates, mergers and acquisitions and the forces of supply and demand.
Get ready for three chaotic days. Here’s a look at new product innovations for the expo don’t forget to join the IntraFish Leadership Breakfast in Boston.
The Boston Seafood Show is upon us once more. Here’s a preview of what’s rolling out for the expo.
Also, join us in Boston for the IntraFish Leadership Breakfast “Markets, Sustainability and Leadership: Creating the Future of the Latin American Shrimp Industry.”
The program includes presentations, discussions and unrivaled networking March 12.There will be executives from Skretting, Rabobank, Antarctica Advisors, WWF and Ecuador’s National Chamber of Aquaculture and more.
Amsterdam‑based IMV Holding, a global fishing and processing company with operations in Africa, South America, India and Peru, took an equity stake in Boston processor Stavis Seafoods, providing access to raw materials and vertical integration; Stavis’ new CEO said the partnership will leverage IMV’s resources to expand production and traceability
Ignacio Kleiman, M&A advisor and managing partner at Antarctica Advisors, said there will be more consolidation in the global fishing industry if it wants to achieve better efficiency, capital and management, reports Faro de Vigo.
“To trade perishable goods, such as fishery products, with the added complexity that it is for food, has many obstacles,” Kleiman said. “It requires a certain level of sophistication.”
Ignacio J. Kleiman habla desde Miami con acento argentino. Socio director de Antarctica Advisors, la compañía es una de las únicas consultoras especializadas en el sector pesquero. “Vemos esta industria como un tablero de ajedrez a nivel mundial y somos jugadores”.
– ¿Va a continuar el movimiento de consolidación de empresas en la industria pesquera?
– Absolutamente. Estamos hablando de una industria global, hay mucho movimiento de producto. El pescado está donde está, si quieres consumir pescado de agua fría en lugares cálidos tienes que moverlo, y viceversa. Además está fragmentada, hay compañías muy grandes y miles de medianas y pequeñas. A medida que la industria se vuelve más globalizada y competitiva va a tener que haber más consolidaciones porque requiere capital, calidad, eficiencia, management? Enviar productos perecederos como los pesqueros y de alto valor, con el añadido de que son para alimentación, tiene muchas barreras. Eso requiere de un cierto nivel de sofisticación.
Transaction SummaryAntarctica Advisors, the leading Seafood Industry-focused investment banking firm, acted as the exclusive financial advisor to Clear Springs Foods, Inc. in its 100% sale to Riverence Holding LLC. The combined group is the largest producer of trout in the U.S., becoming one of the largest aquaculture companies in the country.
Antarctica’s specialized Seafood Team worked with the Board and Management in finding the best strategy for the Company, advised in the Company’s refinancing prior to the sale, and led a closed competitive sales process geared towards maximizing value for the Company’s employee-owners.